Article ID: | iaor1988900 |
Country: | United States |
Volume: | 35 |
Issue: | 4 |
Start Page Number: | 319 |
End Page Number: | 326 |
Publication Date: | Jul 1989 |
Journal: | Technological Forecasting & Social Change |
Authors: | Bhagava S.C. |
Keywords: | economics |
This paper demonstrates that if technological substitution is viewed as the result of competition between old and new technology in which new technology wins, and if generalized Lotka-Volterra equations are taken to describe this competition, then various models of technological substitution can be obtained as very special cases. It is argued that this could lead to a better understanding of the substitution process itself.